RE: [CANSLIM] PMFG

From: "Mona Guarino" <webmaster@design21.com>
Subject: RE: [CANSLIM] PMFG
Date: Wed, 1 May 2002 00:10:24 -0700
Next Article (by Subject): Re: [CANSLIM] Tools use. Ian
Previous Article (by Subject): Re: [CANSLIM] PMFG "Tom Worley"
Top of Thread: Re: [CANSLIM] PMFG Harvey Brion
Articles sorted by: [Date] [Author] [Subject]
Tom,

I think the issue of the base's relationship to the stock's high and its
relationship to it's 200-day MA are two entirely separate things. HTMMIS p.
164 para 2 talks about properly formed handles, when they occur:

"should be above the stock's 200-day moving average price line. andles
forming in the lower half of a base or completely below the stock's 200-day
line are weak, failure-prone price structures."

I do remember a daily question recently questioning whether the pivot point
on a base had to be in new high territory.

- -- Mona

> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com]On Behalf Of Tom Worley
> Sent: Tuesday, April 30, 2002 3:43 PM
> To: canslim@lists.xmission.com
> Subject: Re: [CANSLIM] PMFG
>
>
> I disagree. WON was asked in his daily Q&A, which someone posted here,
> whether a basing formation below the high was still useable. As I
> understood
> his answer, not only was it useable, but he didn't mention it
> having to put
> the handle or other pivot over the 200 DMA first. The question,
> as I recall,
> was mostly in reference to big names like Cisco, which I personally don't
> expect will be the future leaders most of us will be buying, but
> will still
> be sought by the managers of our money stuck in mutual funds in 401K plans
> (aaarrgggghhhhh!!!, won't those "professionals" ever learn how to
> invest? I
> am so tired of beating their socks off just doing it as a hobby part time,
> and they are supposed to be doing it as a living)
>
> Tom Worley
> stkguru@bellsouth.net
> AIM: TexWorley
> ----- Original Message -----
> From: "Cefaloni, John L Jr. [AMSTA-AR-WEA]" <john.cefaloni@us.army.mil>
> To: <canslim@lists.xmission.com>
> Sent: Tuesday, April 30, 2002 2:18 PM
> Subject: RE: [CANSLIM] PMFG
>
>
> One comment about the chart: PMFG is trading below it's 200 DMA.
> I believe
> that disqualifies it as a CANSLIM breakout candidate.
>
> John C.
>
> -----Original Message-----
> From: J. Lobatto [mailto:jlobatto@nyc.rr.com]
> Sent: Tuesday, April 30, 2002 2:02 PM
> To: canslim@lists.xmission.com
> Subject: Re: [CANSLIM] PMFG
>
>
> Ian,
>
> PMFG looks interesting. Taking a look at the chart which is an extended
> downward sloping base, where would you set the pivot point; back
> at the July
> high of 23.75 or sometime after that at a lower price?
>
> Jon
> ----- Original Message -----
> From: "Ian" <ianstm@shaw.ca>
> To: <canslim@lists.xmission.com>
> Sent: Tuesday, April 30, 2002 12:28 PM
> Subject: [CANSLIM] PMFG
>
>
> > Hi all:
> >
> > I thought I would throw out PMFG as a CANSLIM watchlist candidate, based
> on
> > the strength of their historical and current revenue and EPS
> growth. They
> > announced earnings today -
> > http://biz.yahoo.com/prnews/020430/datu033_1.html - another strong Q,
> > showing 58% revenue growth, and 167% income growth, and $0.38 EPS. The
> > caveat in todays report is the declining backlog (69 M to 63M) from last
> Q.
> >
> > They are a 'traditional' CANSLIM candidate, in that there are just
> 3,000,000
> > shares outstanding. The 2-year weekly chart is starting to look
> > interesting - the daily chart appears random, as the stock is highly
> > illiquid, volatile and subject to excessive spreads.
> >
> > IF AND ONLY IF a significant (20000+) change in average daily volume is
> > sustained, then it would meet all of my personal cirteria as an
> exceptional
> > CANSLIM candidate. But that is a big 'IF' - it really needs a quantum
> change
> > in volume - right now, it could easily collapse with one block seller.
> >
> > PMFG is one to add to the watchlist - looking for a sustained
> daily volume
> > increase, and a price move up through resistance levels in the $18-$23
> area.
> >
> >
> > Ian
> >
> >
> >
> >
> > -
> > -To subscribe/unsubscribe, email "majordomo@xmission.com"
> > -In the email body, write "subscribe canslim" or
> > -"unsubscribe canslim".  Do not use quotes in your email.
>
>
> -
> -To subscribe/unsubscribe, email "majordomo@xmission.com"
> -In the email body, write "subscribe canslim" or
> -"unsubscribe canslim".  Do not use quotes in your email.
>
> -
> -To subscribe/unsubscribe, email "majordomo@xmission.com"
> -In the email body, write "subscribe canslim" or
> -"unsubscribe canslim".  Do not use quotes in your email.
>
>
>
>
> -
> -To subscribe/unsubscribe, email "majordomo@xmission.com"
> -In the email body, write "subscribe canslim" or
> -"unsubscribe canslim".  Do not use quotes in your email.


- -
- -To subscribe/unsubscribe, email "majordomo@xmission.com"
- -In the email body, write "subscribe canslim" or
- -"unsubscribe canslim".  Do not use quotes in your email.
Go to Jeff Salisbury LWGate Home Page.